Technology Transforms ERP for a More Effective Finance Department
Analyst Perspective
ERP systems have been the central nervous system of enterprises for more than three decades, handling business-critical process management and recordkeeping. While their basic outlines are unchanged, today’s systems are far more capable in their functional depth, adaptability, usability and manageability. Especially for cloud-based systems, they are far easier to maintain. Decades of refinement and focused development to support specific industries, and even specialized categories within these industries, have increased their utility while decreasing the total cost of ownership, especially in implementation expense and maintenance. Artificial intelligence (AI) is the latest supporting technology to increase the business value of the software. So, when considering replacing existing ERP software, it’s most important to understand and evaluate how a new system can add to the capabilities of the incumbent and how to manage the organizational change that will become possible and necessary with that change.